• UWIN�s 1st Quarter Net Income $2,857,302 or $0.28 Per Common Share
• Isle of Capri Black Hawk 1st Quarter Revenue $27.8 Million
• Isle of Capri Black Hawk 1st Quarter EBITDA $7.2 Million
• Isle of Capri Black Hawk 1st Quarter Net Income $3.2 Million 

UWIN also announced the opening of the Isle of Capri Black Hawk 237-room hotel in Black Hawk, Colorado.  The grand opening celebration for the hotel, which is above the existing casino, is scheduled for September. �We are proud of the continued growth of the Isle of Capri Black Hawk Casino,� says H. Thomas Winn, President and CEO of Nevada Gold & Casinos, Inc.  �We feel that the opening of the 237-room hotel will continue to make us the dominant facility in the Black Hawk market.�

Construction for a new 237-room Isle of Capri hotel began in July 1999.  Construction is expected to take 14 months at a cost of approximately $29 million.  This will be the first major hotel in the rapidly-growing Black Hawk market.

UWIN currently owns 43 percent of the Isle of Capri Casino-Blackhawk, the largest hotel casino in Colorado, through a joint venture with Isle of Capri Casinos, Inc. (Nasdaq: ISLE).  The company also owns approximately 240 acres of undeveloped real estate contiguous to Black Hawk, Colorado.  UWIN intends to develop into a master-planned resort community and is currently conducting a feasibility study.  In addition, UWIN has purchased over 800 acres of New York�s Wellesley Island to develop a resort site with a potential Indian-based casino.  UWIN also controls approximately 30 percent of Restaurant Connections International, Inc. (RCI), which owns and operates 19 Pizza Hut restaurants in Sao Paulo, Brazil.

UWIN�s stock is traded on the Over-the-Counter Bulletin Board under the symbol UWIN and on the Boston Stock Exchange (BSE) under the symbol UWN. 

Except for historical information contained in this release, certain matters set forth in this press release are forward looking statements that are subject to risks and uncertainties, including government regulation and taxation, customer attendance and spending, competition, capital resources, general economic conditions, and other risks detailed in the Company�s SEC reports.